Stuttgart, November 5th, 2024 – In the third quarter of 2024 CENIT continues its strong performance seen in the first half-year of 2024 and remains on its growth path. After nine months, CENIT Group has generated sales revenues of EUR 151,433 k (previous year: EUR 133,305 k/+13.6%). Sales of third-party software increased by 12.0% to EUR 75,700 k (previous year: EUR 67,607 k). Sales of CENIT's own software increased significantly from EUR11,605 k to EUR 13,633 k (+17.5%). Sales revenues in the CENIT consulting and services segment increased by 15.3% to EUR 61,983 k (previous year: EUR 53,757 k).
Gross profit (operating performance less cost of materials) amounted to EUR 88,838 k (previous year: EUR 78,970 k) and thus increased by 12.5%. CENIT achieved EBITDA of EUR 10,413 k (previous year: EUR 9,471 k/9.9%) and EBIT of EUR 3,966 k (previous year: EUR 4,599 k/-13.8%). The adjusted EBITDA totaled EUR 11.11 million (previous year: EUR 8.82 million/+26.0%) and the adjusted EBIT was EUR 4.67 million (previous year: EUR 3.95 million/+18.2%). Earnings per share amounted to Cent 11.1 (previous year: Cent 28.6).
Asset and Financial Situation
As of the balance sheet date, equity amounted to EUR 49,770 k (Dec. 31, 2023: EUR 45,003 k). The equity ratio amounted to 32.4% (Dec. 31, 2023: 29.3%). Bank balances, cash and cash equivalents amounted to EUR 12,180 k as of the balance sheet date (Dec. 31, 2023: EUR 24,341 k). Operating cash flow totaled EUR 9,905 k (previous year: EUR 8,500 k), mainly due to the change in working capital.
Employees
As of September 30, 2024, the number of employees in the Group was 1,002 (Dec. 31, 2023: 893). Personnel expenses amounted to EUR 64,252 k in the CENIT Group in the reporting period (previous year: EUR 58,198 k).
Outlook
For the current year, our changed outlook for the CENIT Group is to reach a revenue of around EUR 205,000 - 210,000 k and earnings (EBIT) of around EUR 8,000 - 8,500 k. The company has launched an inside information for the adjustment of the guidance on October 31, 2024.
Please visit CENIT’s homepage for the entire quarterly report as of 30.09.2024:
